discuss Will reading maximize my returns in domaining?

[Arpit131]

Hey guys...

I realised that one of the things to stay ahead of the game is to know a lot of one thing. For example, many people made a fortune in cryptocurrency niche because they were aware of it even before it became popular, they did their research well and accordingly planned their investments. Based on the same research, they knew when would be the best time to cash out instead of holding the domains.

Looking into this, I am coming to realize that while knowing about domaining is extremely necessary, having a good knowledge about different sectors, industry or futuristic technology in itself is a big value add. This may help in long term investment of say 3-4 years which may pay off big returns if we have the eyes to see.

Like Rick Schwartz knew what he was investing in and held onto it because he may have been backed by some heavy research and had his reasons to invest and hold a good number of domains, we too may be futuristic about this, and may reap good returns.


As a result, I am planning to start reading things like McKinsey Insights, Medium, a lot more business news and be updated on technology which may still be in the nascent stage but has good potential to become huge.

What is your take on this?

 

[Bob Hawkes]

having a good knowledge about different sectors, industry or futuristic technology in itself is a big value add.

I agree that investing only in areas that we are knowledgeable, and staying up with leading-edge knowledge in those areas should, in some cases at least, pay off.

Also, I think cultivating, to the degree possible, relationships with leaders in those fields is helpful (but not easy). Some social media can help.

Bob

 

[Internet.Domains]

For example, many people made a fortune in cryptocurrency niche because they were aware of it even before it became popular,

It can be argued that we are still in the early stages of cryptocurrency and its underlying technology, blockchains. Spun out of these developments is new sectors emerging such as DeFi, Nonfungible Tokens, Tokenizing assets (digital securities) and the Decentralized Web (dweb). Money will be made in these areas.

Point being, yes, it helps to be on top of emerging technologies if you want to buy low and sell high as products/services go more mainstream.

As an example, I was buying drone domains early on, before the term went mainstream. Then there was one news report that Amazon was researching drone deliveries. Immediately, within hours of the news breaking, the inquiries were coming in.

 

[NickB]

I prefer to know a little about a lot ....you can skim industries and pick up the language very quickly without being an expert. This does mean reading through a lot of articles from sites that are trying to be/or are "thought leaders" - Deloitte is a good example,....also look at futurist sites, they are full of good keywords

Do more reading on areas that you are interested in, go to university incubation pages, look at where seed funding is being allocated and keep an eye on Google News for the latest articles......

And the rest.......

 

[WatchDogue]

Becoming well read on pending, forthcoming, or potential future innovations and / or trends in any industry can only be a benefit to a domain investor.

The question eventually becomes how much to invest based on one's synopsis and analysis of their reading - does one need to acquire fifty names,or one hundred names or what number of names to adequately cover their newfound knowledge and insights into a new field?

I would believe that reading as discussed, coupled with common sense purchases, certainly should help maximize one's ROI over time.

 

[bmugford]

Having some knowledge in a lot of fields certainly helps when parsing through large lists of domains.

I actually enjoy researching and learning. It is one of the things that drew me to this field to begin with.

Brad

 

[oldtimer]

Reading many articles about new trends and technologies although can make you very knowledgeable, but it will consume a lot of your time, it might be best to just glance at the headlines in order to get some ideas for new domains and after you have secured the right domain then you can do some more research by reading more articles in that field to become more knowledgeable as far as any future potentials for your domain name.

I registered DecentralizedWare.com recently by glancing at some headlines which gave me the idea for the domain and then after registering it I read some more articles about Decentralized Software to find out more details about what it could be used for.

IMO

 

[NickB]

Having some knowledge in a lot of fields certainly helps when parsing through large lists of domains.

I actually enjoy researching and learning. It is one of the things that drew me to this field to begin with.

Brad

I love reading about something new, be it a good fiction novel, history, myths, geography, science, tech, business, current affairs and so forth.....the thrill of learning is hugely beneficial when it comes to domaining as it is a motivational tool - it is not the be all and end all but it certainty helps to have an inquisitive mind within this space

 

[johnn]

Yes you will learn unless you read the B.S. threads:
- Shoot for the Sun
- What are you doing at the moment
- What do you think the logo of Whocares.com
- Do you think we will have snow/rain next month
- Wanted one word dictionary for $500-$2,000

You get the idea.

 

[Arpit131]

I agree that investing only in areas that we are knowledgeable, and staying up with leading-edge knowledge in those areas should, in some cases at least, pay off.

Also, I think cultivating, to the degree possible, relationships with leaders in those fields is helpful (but not easy). Some social media can help.

Bob

But that has always been debatable. Does relationship actually help in domaining?

It can be argued that we are still in the early stages of cryptocurrency and its underlying technology, blockchains. Spun out of these developments is new sectors emerging such as DeFi, Nonfungible Tokens, Tokenizing assets (digital securities) and the Decentralized Web (dweb). Money will be made in these areas.

Point being, yes, it helps to be on top of emerging technologies if you want to buy low and sell high as products/services go more mainstream.

As an example, I was buying drone domains early on, before the term went mainstream. Then there was one news report that Amazon was researching drone deliveries. Immediately, within hours of the news breaking, the inquiries were coming in.

If you are still holding them, money is coming your way my friend! Ride the wave!

Becoming well read on pending, forthcoming, or potential future innovations and / or trends in any industry can only be a benefit to a domain investor.

The question eventually becomes how much to invest based on one's synopsis and analysis of their reading - does one need to acquire fifty names,or one hundred names or what number of names to adequately cover their newfound knowledge and insights into a new field?

I would believe that reading as discussed, coupled with common sense purchases, certainly should help maximize one's ROI over time.

Good point there! Yes, the number of domains is debatable. But some solid combinations available easily in the beginning may actually sky rocket and are worth the risk!

 

[Arpit131]

Reading many articles about new trends and technologies although can make you very knowledgeable, but it will consume a lot of your time, it might be best to just glance at the headlines in order to get some ideas for new domains and after you have secured the right domain then you can do some more research by reading more articles in that field to become more knowledgeable as far as any future potentials for your domain name.

I registered DecentralizedWare.com recently by glancing at some headlines which gave me the idea for the domain and then after registering it I read some more articles about Decentralized Software to find out more details about what it could be used for.

IMO

Keep us updated about the same and how it pans out for the domain you mentioned. Have you started getting inquiries? Is it parked etc.
Just to gauge how things are in reading and registering domains.

 

[Bob Hawkes]

Does relationship actually help in domaining?

It is incredibly hard to effectively do, but I think those with genuine mutual relationships in an area have a huge advantage in that first step of what I call indirect outbound. That is if you naturally chat with decision makers in a field, whether in person or on social media, and can bring into a discussion a name you have, in a natural way, that is a huge competitive advantage.

I presume that the long-term effective brokers have established relationships of this type, including with intermediaries such as branding and naming experts and marketing managers.

I see some using LinkedIn effectively for this, and others, to some degree, Twitter. The Story Telling keynote at NamesCon 2019 referenced using a variety of types of approaches for that one or two sentence opening storyline to start the conversation.

Bob

 

[oldtimer]

Keep us updated about the same and how it pans out for the domain you mentioned. Have you started getting inquiries? Is it parked etc.
Just to gauge how things are in reading and registering domains.

I am more of a hobbyist and collector. I park my domains at Epik and have a general sales lander as a placeholder for them to give them some exposure, but I rather be able to keep all my domains, although I don't mind selling a domain or two if I get an offer that I can't refuse just to help out with renewals and new domain registrations.

IMO

 

[pablohc86]

Well domains are assets and get the most when are sold to endusers. Get educated about what are the endusers need can't surely be bad to know where to invest

 

[Brands.International]

Hey guys...

I realised that one of the things to stay ahead of the game is to know a lot of one thing. For example, many people made a fortune in cryptocurrency niche because they were aware of it even before it became popular, they did their research well and accordingly planned their investments. Based on the same research, they knew when would be the best time to cash out instead of holding the domains.

Looking into this, I am coming to realize that while knowing about domaining is extremely necessary, having a good knowledge about different sectors, industry or futuristic technology in itself is a big value add. This may help in long term investment of say 3-4 years which may pay off big returns if we have the eyes to see.

Like Rick Schwartz knew what he was investing in and held onto it because he may have been backed by some heavy research and had his reasons to invest and hold a good number of domains, we too may be futuristic about this, and may reap good returns.


As a result, I am planning to start reading things like McKinsey Insights, Medium, a lot more business news and be updated on technology which may still be in the nascent stage but has good potential to become huge.

What is your take on this?

Reading is good, but it can actually confuse you if you get too playful or niche with your domain names - strong, frequently used english dictionary words with large end user pool are best as a domain investments, imo

 

[lock]

The funny thing is I really believe the more experience the better off. However I will say when I knew nothing was the good old days so just go for it.

 

[equity78]

But that has always been debatable. Does relationship actually help in domaining?


If you are still holding them, money is coming your way my friend! Ride the wave!

Good point there! Yes, the number of domains is debatable. But some solid combinations available easily in the beginning may actually sky rocket and are worth the risk!

Yes relationships help that really should not be debated.

Reading is helpful, having some focus on what you invest in is important as well.